India Briefs

Reliance Industries announced a six per cent growth in its net profit to Rs 702 crore for the second quarter ended September. Sales declined seven per cent to Rs 6,234 crore during the same period.

Automaker Telco has reduced its loss by 61 per cent to Rs 61.8 crore in the second quarter ended September, against a loss of Rs 158 crore in the same period last year. Revenues during the same period increased by eight per cent to Rs 2,054 crore.

Almost all refining companies with the exception of Reliance Petroleum have recorded a fall in revenues in the second quarter . The fall in net profits and revenue are being attributed to the sustained fall in demand coupled with a sharp fall in international prices for petroleum products.

US power major CMS Energy is planning to exit from all its power assets in India. These include two IPPs already commissioned : one is under construction while another is still in the development stage.

The United Breweries Group has shortlisted four global beer companies -- Carlsberg, Heineken, South African Breweries and Interbrew -- for offloading 26 per cent stake in its demerged brewery business.

lOctober has proved to be a good month for motorcycle sales for both Hero Honda Motors and Bajaj Auto. Hero Honda sold 1.3 lakh units of motorcycles in October, a jump of 44 per cent over the same month last year.

Meanwhile, Bajaj Auto achieved a 103 per cent rise in motorcycles sales last month as compared to previous year's figure. The two-wheeler industry has grown by 25 per cent during the month.